Reinsurance News

agricultural reinsurance

Swiss Re joins global alliance to support smallholder farmers

25th April 2018

Swiss Re Corporate Solutions has launched a new global initiative in collaboration with World Bank Group member IFC, pharmaceutical and life sciences company Bayer, and irrigation manufacturer Netafim, which aims to support smallholders grow their farms into sustainable, commercially viable businesses. The initiative, called Better Life Farming, will offer risk transfer ... Read the full article

PartnerRe and Farmers Edge team up to close agricultural insurance gap

13th February 2018

Global reinsurance firm PartnerRe has teamed up with agricultural technology and decision software specialists Farmers Edge in a multi-year partnership that aims to help insurers to close the agricultural insurance gap across all continents. The four-year agreement brings together precision farming technology and agricultural insurance in a deal that the pair ... Read the full article

Sompo International expands agriculture platform with A&A acquisition

8th February 2018

Bermuda domiciled property and casualty insurer and reinsurer, Sompo International, has announced plans to acquire Italian agricultural insurer A&A, S.r.l. (A&A). The acquisition of A&A is aligned with Sompo International's recently announced AgriSompo initiative, an international platform designed to provide innovative and coordinated agricultural risk management products tailored to local market needs. The ... Read the full article

Opportunities for reinsurance in India set to increase into 2018

4th December 2017

2018 is forecast to be a big year for the India re/insurance sector, with newly relaxed capital rules that allow well-established Indian insurers to attract capital with an initial public offering (IPO) and the government increasingly opening the grounds to foreign reinsurers, according to Clyde & Co. The renewed focus ... Read the full article

AgriSompo launched as Sompo International targets global agricultural re/insurance

1st November 2017

Bermuda based specialty insurance and reinsurance firm Sompo International Holdings Ltd. (formerly Endurance) has launched AgriSompo, an initiative to create an integrated agriculture insurance and reinsurance offering across the globe. AgriSompo will take a common underwriting approach along with shared expertise and technology to deliver a range of re/insurance products to ... Read the full article

Agricultural insurance needed in underdeveloped Nigerian market: Reports

26th October 2017

Africa Re, the World Bank, and the federal government are collaborating to improve insurance penetration levels among farmers through affordable insurance packages, Ken Aghoghovbia, Chief Operating Officer/Deputy Managing Director, of Africa Re said in an interview with Nigeria Today. Increased agricultural insurance penetration is expected to play a crucial role in ... Read the full article

LatAm’s agricultural markets in need of greater re/insurance penetration: Swiss Re

18th October 2017

The protection gap (disparity between economic and insured losses post-event) for losses from natural disasters in Latin America reached $15 billion in 2016, with widespread impacts to various regions' vital agricultural sectors from numerous perils, but innovative insurance and reinsurance solutions can help to bridge the gap, according to reinsurance ... Read the full article

MGA Crop Pro gets approval to offer U.S. agriculture cover

16th August 2017

Crop pro Insurance, a new managing general agent, (MGA), has received Standard Reinsurance Agreement (SRA) approval from the U.S. Department of Agriculture (USDA) making the firm one of just 16 companies with official permission to participate in the Federal Crop Insurance Programme. The Federal Crop Insurance Corporation is managed by the ... Read the full article

Indian government economic survey signals need for climate insurance

16th August 2017

Insurance against climate risks in India has lagged far behind other sectors despite India being one of the world's most vulnerable nations to the changing climate; severe weather events challenge India's economy with a set back of $9-10 billion of mostly uninsured losses every year, according to the Indian government's Ministry of ... Read the full article

Highland Insurance Solutions names James Tran as new Head of Global Agriculture

26th July 2017

Highland Insurance Solutions (HIS) which partners with Tokio Marine Kiln (TMK) has announced the appointment of James Tran to Head of Global Agriculture. Tran will head up the growth and development of HIS' crop reinsurance segment, working closely with TMK's reinsurance underwriters in London and Singapore. Carl Herrmann, HIS Chief Executive Officer, ... Read the full article

Global reinsurers’ interest in India government crop scheme dampens

25th July 2017

Indian government officials have raised concerns over potentially inadequate reinsurance supply for the Pradhan Mantri Fasal Bima Yojana (PMFBY), the government-sponsored crop insurance scheme, as global reinsurers appear to be losing interest in supporting the scheme. Money Control cited industry sources who said global reinsurers operating in India have reduced exposure ... Read the full article

IRB Brasil RE licenses RMS’ China & India agricultural models

24th July 2017

Brazilian reinsurer, IRB Brasil RE, has licensed RMS' China and India agricultural models in an effort to expand its presence in the global reinsurance market. Global catastrophe risk modeller and analytics firm, RMS, announced recently that IRB Brasil RE has licensed the RMS® China Agricultural Model and RMS® India Agricultural Model, as ... Read the full article

Agricultural index based insurance under the loupe in Africa

6th June 2017

The African agriculture industry is in the throngs of change surrounding the technology, regulation and distribution of index based insurance - developments which are improving the operating environment for insurers as demand for insurance solutions grows. This is according to Jonathan Dixon, Chair of the International Association of Insurance Supervisors (IAIS) ... Read the full article

Indian government agriculture insurance could add 3 million farmers

16th March 2017

Weather Risk Management Services (WRMS), a pioneer for the Indian weather insurance market, has announced plans to connect 3 million farmers across 150 districts to the Pradhan Mantri Fasal Beema Yojana (PMFBY)- the Prime Minister’s Crop Insurance Scheme, BusinessLine reported. The climate risk management firm works with farmers across the country, ... Read the full article

Hannover Re & Swiss Re take 90% of Sri Lankan agricultural re/insurance scheme

17th February 2017

Hannover Re and Swiss Re have taken a 90% share in Sri Lanka’s state-owned National Insurance Trust Fund (NITF) agricultural insurance scheme; accepting a respective 50% and 40% of the placement, which was made through reinsurance broker J.B. Boda & Co. Three other global reinsurers, which includes Munich Re, share the ... Read the full article